§ 805 ILCS 215/501 Form of contribution
§ 805 ILCS 215/502 Liability for contribution
§ 805 ILCS 215/503 Sharing of distributions
§ 805 ILCS 215/504 Interim distributions
§ 805 ILCS 215/505 No distribution on account of dissociation
§ 805 ILCS 215/506 Distribution in kind
§ 805 ILCS 215/507 Right to distribution
§ 805 ILCS 215/508 Limitations on distribution
§ 805 ILCS 215/509 Liability for improper distributions

Terms Used In Illinois Compiled Statutes > 805 ILCS 215 > Article 5 - Contributions and Distributions

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Dependent: A person dependent for support upon another.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28